Ayala Corporation and the University of the Philippines School of Economics (UPSE) held the second of a series of quarterly economic forums on August 29 with Citigroup Managing Director Dr. Johanna Dee Chua delivering a lecture on challenges to the Philippine financial sector.
Entitled “The Philippines: Will Financial Stability Be At Risk?,” Dee Chua’s keynote address focused on the evolving role of central banks and the prospects of local and regional banking sectors. The Hong Kong-based economist also expressed confidence that the Philippine economy would continue growing over the medium term.
Monetary Board Member Dr. Felipe M. Medalla and Antonio C. Moncupa, Jr., President and CEO of EastWest Bank, served as discussants.
For his part, Medalla said he expects the Philippine economy to expand from between five to six percent annually unless more reforms are introduced and institutionalized, which would result in even higher growth.
UPSE Dean Ramon L. Clarete and Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala were in attendance together with ranking executives from Ayala group companies and university students. Also present were former Finance Secretary Margarito B. Teves and National Scientist Dr. Raul V. Fabella.
The Ayala-UPSE Economic Forum seeks to educate the public and inform policy makers of research findings on the Philippine economy. In November last year, Ayala and UPSE – through their respective non-profit organizations, Ayala Foundation and UPecon Foundation – renewed their commitment to conduct the quarterly economic forums until 2016. This builds on an earlier partnership from 2008 to 2011 that resulted in 12 public lectures conducted by UPSE professors on poverty, growth and development, food security, labor, education, international monetary system, housing, and politics and institutions.
On its 180th year, Ayala continues to partner with academic institutions to further issue-based discourse and share with the public relevant information on the potentials of the Philippine economy.